The Goodyear Tire & Rubber Company (GT) 8-K Deutsche Bank Global Auto Industry Conference

Deutsche Bank Global Auto Industry Conference

January 13, 2015

Exhibit 99.1

Forward-Looking Statements

Certain information contained in this presentation constitutes forward-looking statements for purposes of the

safe harbor provisions of The Private Securities Litigation Reform Act of 1995. There are a variety of factors,

many of which are beyond our control, that affect our operations, performance, business strategy and

results and could cause our actual results and experience to differ materially from the assumptions,

expectations and objectives expressed in any forward-looking statements. These factors include, but are not

limited to: our ability to implement successfully our strategic initiatives; actions and initiatives taken by both

current and potential competitors; increases in the prices paid for raw materials and energy; a labor strike,

work stoppage or other similar event; deteriorating economic conditions or an inability to access capital

markets; work stoppages, financial difficulties or supply disruptions at our suppliers or customers; the

adequacy

of

our

capital

expenditures;

our

failure

to

comply

with

a

material

covenant

in

our

debt

obligations;

potential adverse consequences of litigation involving the company; as well as the effects of more general

factors

such

as

changes

in

general

market,

economic

or

political

conditions

or

in

legislation,

regulation

or

public policy. Additional factors are discussed in our filings with the Securities and Exchange Commission,

including our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

In addition, any forward-looking statements represent our estimates only as of today and should not be

relied upon as representing our estimates as of any subsequent date. While we may elect to update

forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even

if our estimates change.

Reconciliations of the non-GAAP financial measures used in this presentation are available in the Appendix

and are posted on our Investor Relations website, investor.goodyear.com.

2

Company Overview

.

Goodyear tires are sold

in two distinct tire markets...

(% of 2013 Units of 162 million)

...and serve customers

around the world

(% of 2013 Revenue of ~$20 billion)

…available in a diverse

selection of products...

(% of 2013 Revenue of ~$20 billion)

OE ~20% of 2013 Revenue

Consumer

21%

Retail

7%

Other

12%

Chemical

4%

Commercial

Includes:

OTR, Farm,

Race, &

Aviation

56%

North

America

44%

Europe, Middle   

East & Africa

34%

Latin

America

11%

Asia Pacific

11%

Goodyear is a global tire industry leader with powerful brands and

broad product reach

Replacement Market

69%

OE Market

31%

3

Strategy Roadmap

4

Our Destination -

Our Destination -

Creating Sustainable Value

Creating Sustainable Value

Industry

MegaTrends

“Long-term Growth Drivers”

Where We Are

Where We Are

Key Strategies

Key Strategies

Key How To’s

Key How To’s

Executing Plan

Innovation Leader

Record Earnings

Value Creating

Investing for Growth

US Pension Fully Funded

Top Line / Bottom Line Growth

First with Customers

Innovation Leaders

Leader in Targeted Segments

1.

North America: Grow Profitably

2.

Asia: Win in China / Grow Asia

3.

EMEA / LA: Return to Historical

Profit

Competitively Advantaged

Profitable thru Economic Cycle

Cash Flow Positive

Investment Grade

Market-Back Innovation Excellence

Sales & Marketing Excellence

Operational Excellence

Operational Excellence

Enabling Investments

Enabling Investments

Top Talent / Top Teams

Goodyear’s Competitive Advantage

For winners, not an “OR”…

it is an “AND”

Goodyear

delivers

both

in

an

integrated

manner

Market-Back Approach

Sufficient HVA Capacity

Advantaged Value Proposition

Operational

Excellence

5

AND

Iconic brand

Industry leading products

Pervasive distribution

Strong customer relations

Consumer-centric focus

Right Tire

Right Time

Right Place

Right Cost

Goodyear Then …

And Now

2013

2012

2011

2010

$1.6

$1.2

$1.4

$0.9

Segment Operating Income Growth

(a)

See Segment Operating Income reconciliation in Appendix on page 23

(b)

Trailing twelve months as of September 30, 2014

(c)

See

Free

Cash

Flow

from

Operations

reconciliation

in

Appendix

on

page

24

(d)

Primarily non-US plans; projected for December 31, 2014 using 2013 year-end assumptions

(a)

2013

2012

2011

2010

$1.0

$0.7

$0.2

$0.4

Strong Free Cash Flow

(c)

6

$ In billions

2014E

2013

2012

2011

~$0.7

$1.9

$3.5

$3.1

Progress on Global Unfunded Pension

(d)

Significant  SOI growth and cash generation capability

$1.8

TTM

(b)

$0.8

TTM

(b)

TTM

(b)

$0.8

2013

2012

2010

$0.7

$0.5

$0.3

~$0

North America Turnaround

2011

Segment Operating Income

$0.3B

loss in

2009

Fully funded,

froze, and de-

risked U.S.

plans

Preliminary View of 2014 Results

7

•

Record total company and North America segment operating income

•

Now expect 2014 FY SOI growth slightly below original 10-15% range,

primarily due to a more challenging industry environment in Europe in Q4

and stronger dollar globally

–

Expect global volume to be essentially flat

–

Expect Q4 impact of these developments to be $0.15-$0.20 per share

below our expectations at time of Q3 call

•

Expect free cash flow to be slightly better than anticipated at time of Q3

call; capital allocation plan remains on track

Record earnings and strong free cash flow

Q4 2014

EMEA Business Update

8

•

Industry negatively impacted by warmer than expected winter

that lasted through the quarter; one of the warmest on record

•

While our winter premium brand sales through Q3 were strong,

dealer replenishment was much weaker in Q4 than we expected

–

Industry sell-out was down double digits in some markets

compared with last year

•

More challenging economic conditions and a stronger US dollar

More challenging environment than expected in Europe in Q4

9

2015 Outlook

Preliminary Planning Assumptions

FX headwind (similar impact

as 2014)

Venezuela uncertainty

Neutral OTR

Potential release of US tax

valuation allowance

Tax rate if released: 30-35% of

global pre-tax income, no US cash

taxes for ~5 years

Global volume growth of 1-2%

Positive price mix vs. raw

materials (~$50-$100 million)

Cost savings

Operational Excellence

Amiens closure / EMEA Farm

tire business exit

$1.2 billion capex

Reaffirming 10-15% SOI growth target for 2015;

Planning assumptions to be updated in year-end call

Positive Drivers

Other Factors

As previously presented

during Q3 Earnings Call

(October 29, 2014)

10

2015 Outlook

Preliminary Planning Assumptions

FX headwind (similar impact

as 2014)

Venezuela uncertainty

Neutral OTR

Potential release of US tax

valuation allowance

•

Tax rate if released: 30-35% of

global pre-tax income, no US cash

taxes for ~5 years

Global volume growth of 1-2%

Positive

price

mix

vs.

raw

materials (~$50-$100 million)

Cost savings

•

Operational Excellence

•

Amiens closure / EMEA Farm

tire business exit

$1.2 billion capex

Positive Drivers

Other Factors

Will update at our Year-End Earnings

Call in February 2015

(Call-Out boxes reflect latest factors)

Getting

tougher

Lower raws

USD continues

to strengthen

Increasing

confidence

Impact of oil price

on

economic

model

Chinese tariffs

Continue

to

reaffirm

10-15%

SOI

growth

target

for

2015;

Expect

positive

momentum

in

NA

to

offset

International

headwinds

Recent Trends:  Raw Materials

•

Spot prices down significantly YoY in 2014:

–

Natural Rubber: ~32%

–

Synthetic Rubber: ~8%

–

Carbon Black:  ~53%

–

Oil (WTI):  ~46%

•

Raw materials ~50% of tire business cost

of goods sold

–

Tires ~85% of total cost of goods sold

•

Around two-thirds of raw materials are

influenced by oil prices

–

P&L impact lags spot rates by 1-2 quarters

depending on commodity

•

Customer agreements indexed to raw

materials:

–

OE customers (~20% of sales)

–

Certain large Commercial fleets

–

OTR customers

Goodyear Global Raw Material Usage

2014 FY Estimate

*Petrochemical-based

*

*

*

*

Recent decline in commodity prices will provide a further

tailwind to raw material costs beginning in Q2 2015

11

Recent Trends: Potential US Tariffs on

Chinese Consumer Tire Imports

Several recent affirmative rulings by the Department of Commerce

(DOC)

and International Trade Commission (ITC) for anti-dumping (AD) and

countervailing duty (CVD) investigations

7/22/14: ITC affirmative preliminary injury decision

11/21/14: DOC affirmative preliminary CVD decision and rate set (12.03%

margin for most Chinese tire importers)

CVD and any future AD margins retroactive to September

Upcoming decisions:

1/20/15: DOC preliminary AD decision & rate

Petition seeking AD margins between 45.80-87.99%

4/6/15: DOC final AD and CVD decisions

5/21/15: ITC final injury determination (deadline could be pushed 60 days)

2009-2012 Traiff 421 benefited our US business

12

2015-2016 Financial Targets

We remain confident in our strategy

Reaffirming 2015-2016 targets

–

Annual 10-15% SOI growth per year

–

Annual positive free cash flow from operations

–

Adjusted

Debt

to

EBITDAP

(a)

ratio

of

~2.0x

by

the

end

of

2016

(a)

Total debt plus global pension liability, divided by net income before interest expense, income tax expense, depreciation and amortization

expense, net periodic pension cost, rationalization charges and other (income) and expense

Reaffirming 2015-2016 targets; will update assumptions on Q4 call

13

Capital Allocation

2014 - 2016 SOI Target

$5.5 - $5.8

2014 - 2016 EBITDAP

~ $7.8 - $8.2

Adjustments for:

  Corporate Expense,

  Depreciation, and

  Pension Expense

15

Sources and Uses of Cash

2014-2016

Note: All estimates based on current assumptions and available data

Strong earnings growth driving significant cash available for deployment

Maintaining

the

Business

Capital

Allocation

Plan

$ In billions

•

Interest Expense

~$1.2 -

•

Taxes Paid

~ $0.8 -

$1.0

•

Sustaining CapEx

~ $2.0 -

$2.2

•

Working Capital

~ $0.0

•

~$4.0 -

$4.6

Cash Available for

Deployment

•

Dividends / Share

Repurchase

•

Growth CapEx

•

Debt Reductions

(incl. Pension)

•

Restructurings

~$3.6 -

$3.8

Total

$1.4

Balanced capital allocation plan

Capital Allocation Plan –

Driving Value 2014-2016

16

* $0.65B approved by Board of Directors; increases dependent on Company performance including the achievement of financial targets

Debt Repayment /

Pension Funding

Growth CapEx

Restructurings

Shareholder

Return Program

$1.5B

$0.6 -

$0.9B*

$0.6B

$0.8 -

$0.9B

$3.6 -

$3.8B

Americas

NA & LA

~ 30%

Americas

NA & LA

~ 55%

EMEA & Asia

~ 70%

EMEA & Asia

~ 45%

2011-2013

~$1.3 billion

2014-2016

~$1.5 billion

Heavy investment

in new China plant

and Europe tire

labeling

Includes

new plant for

the Americas

~$500 million

Growth CapEx Investment

Continue to invest for growth ... shifting focus to meet business needs

Targeting ~20% IRR

Primarily

investment in

HVA capacity

& tire labeling

capabilities

17

Balance Sheet Management –

Leverage Targets

Leverage consistent with commitment to achieving investment grade metrics

Reduces cost of capital

Improves global access to credit

Committed to achieving investment grade

balance sheet by the end of 2016

Adjusted Debt

/ EBITDAP

(a)

Note:  See reconciliations in Appendix on page 25

Greater ability to move debt overseas

Ability to reduce cash balances

18

a)

Total

debt

plus

global

pension

liability,

divided

by

net

income

before

interest

expense,

income

tax

expense,

depreciation

and

amortization

expense,

net

periodic

pension

cost,

rationalization

charges

and

other

(income)

and

expense

Shareholder Return Program

19

Continued focus on shareholder returns

Share repurchase program -

$450 million authorized

in 2014-2016 plan

–

Completed $150 million in Q4/14

–

Approximately halfway through program in first

year

Dividend payment $0.06 per share per quarter, a 20%

increase in first year

Q & A

Appendix

Use of Historical and Forward-Looking

Non-GAAP Financial Measures

22 

This presentation contains our historical total segment operating income and free cash flow from operations for certain

periods,

our

targeted

total

segment

operating

income

growth

rate

for

2015-16,

our

historical

ratio

of

Adjusted

Debt

to

EBITDAP for certain periods, and our targeted ratio of Adjusted Debt to EBITDAP for 2016. Total segment operating

income, free cash flow from operations, and the ratio of Adjusted Debt to EBITDAP are important financial measures for

the

company

but

are

not

financial

measures

defined

by

U.S.

GAAP,

and

should

not

be

construed

as

an

alternative

to

corresponding financial measures presented in accordance with U.S. GAAP.

Total

segment

operating

income

is

the

sum

of

the

individual

strategic

business

units’

segment

operating

income

as

determined in accordance with U.S. GAAP. The most directly comparable GAAP financial measure is Income before

Income Taxes. Management believes that total segment operating income is useful because it represents the aggregate

value of income created by the company’s SBUs and excludes items not directly related to the SBUs for performance

evaluation purposes.

Free Cash Flow from Operations is the company’s Cash Flow from Operations as determined in accordance with U.S.

GAAP before pension contributions and direct payments and rationalization payments, less capital expenditures. 

Management believes that Free Cash Flow from Operations is useful because it represents the cash generating capability

of the company’s ongoing operations, after taking into consideration capital expenditures necessary to maintain its

business and pursue growth opportunities.

Adjusted Debt is the sum of our total debt and our global pension liability, each as determined in accordance with U.S.

GAAP, and EBITDAP, as adjusted, represents net income (the most directly comparable GAAP financial measure) before

interest expense, income tax expense, depreciation and amortization expense, net periodic pension cost, rationalization

charges and other (income) and expense. We present the ratio of Adjusted Debt to EBITDAP because we believe it is

widely used by investors as a means of evaluating a company’s leverage.

It should be noted that other companies may calculate similarly titled non-GAAP financial measures differently and, as a

result, the measures presented herein may not be comparable to such similarly titled measures reported by other

companies.

We are unable to present a quantitative reconciliation of our forward-looking non-GAAP financial measures to the most

directly comparable GAAP financial measures, because management cannot reliably predict all of the necessary

components

of

those

GAAP

financial

measures

without

unreasonable

effort.

These

components

could

be

significant

to

the calculation of those GAAP financial measures in the future.

Reconciliation for Segment Operating

Income / Margin

23

$ In millions

2013

2012

2011

2010

Total Segment Operating Income

1,772

$     

1,580

$

1,248

$

1,368

$

917

$   

Rationalizations

(97)

(58)

(175)

(103)

(240)

Interest expense

(420)

(392)

(357)

(330)

(316)

Other expense

(227)

(97)

(139)

(73)

(186)

Asset write-offs & accelerated depreciation

(11)

(23)

(20)

(50)

(15)

Corporate incentive compensation plans

(98)

(108)

(69)

(70)

(71)

Corporate pension curtailments/settlements

(33)

-

1

(15)

-

Intercompany profit elimination

5

4

(1)

(5)

(14)

Retained expenses of divested operations

(18)

(24)

(14)

(29)

(20)

Other

(54)

(69)

(34)

(75)

(47)

Income before Income Taxes

819

$        

813

$   

440

$   

618

$   

8

$      

United States and Foreign Taxes

170

138

203

201

172

Less: Minority Shareholders Net Income

91

46

25

74

52

Goodyear Net Income (Loss)

558

$        

629

$   

212

$   

343

$   

(216)

$  

Sales

$18,573

$19,540

$20,992

$22,767

$18,832

Return on Sales

3.0%

3.2%

1.0%

1.5%

(1.1)%

Total Segment Operating Margin

9.5%

8.1%

5.9%

6.0%

4.9%

Twelve Months Ended

December 31,

Twelve

Months

Ended

September 30,

2014

Reconciliation for

Free Cash Flow From Operations

24

a)

Working

capital

represents

total

changes

in

accounts

receivable,

inventories

and

accounts

payable

–

trade.

b)

Pension expense is the net periodic pension cost before curtailments, settlements and termination benefits as reported in the pension-related note in the Notes to

Consolidated Financial Statements.

c)

Other includes amortization and write-off of debt issuance costs, net pension curtailments and settlements, net rationalization charges, net (gains) losses on asset

sales, net Venezuela currency remeasurement loss, customer prepayments and government grants, insurance proceeds, compensation and benefits less pension

expense, other current liabilities, and other assets and liabilities.

The amounts below are calculated from the Consolidated Statements of Cash Flows except for pension expense, which is as reported in the pension-

related note in the Notes to Consolidated Financial Statements.

Trailing

Twelve Months

Ended

($ in millions)

Sept. 30,

2014

2013

2012

2011

2010

Net Income (Loss)

649

$              

675

$     

237

$     

417

$     

(164)

$    

Depreciation and Amortization

736

722

687

715

652

Change in Working Capital

(a)

(50)

415

457

(650)

52

Pension Expense

(b)

196

285

307

266

300

Other

(c)

329

75

140

461

546

Capital Expenditures

(1,068)

(1,168)

(1,127)

(1,043)

(944)

Free Cash Flow from Operations (non-GAAP)

792

$              

1,004

$   

701

$     

166

$     

442

$     

Capital Expenditures

1,068

1,168

1,127

1,043

944

Pension Contributions & Direct Payments

(1,382)

(1,162)

(684)

(294)

(405)

Rationalization Payments

(181)

(72)

(106)

(142)

(57)

Cash Flow from Operating Activities (GAAP)

297

$              

938

$     

1,038

$   

773

$     

924

$     

Year Ended

December 31,

EBITDAP, Adjusted Debt & Leverage Ratio

Reconciliations

25

$ In millions

a)

Net periodic pension cost excludes curtailments/settlements and termination benefits.

b)

Other includes rationalization charges and other (income) and expense.

2013

2012

2011

2010

Net Income (Loss)

$675

$237

$417

($164)

Interest Expense

392

357

330

316

Income Tax Expense

138

203

201

172

Depreciation and Amortization

722

687

715

652

Net Periodic Pension Cost

(a)

285

307

266

300

Other

(b)

155

314

176

426

EBITDAP, as adjusted

$2,367

$2,105

$2,105

$1,702

2013

2012

2011

2010

Notes Payable and Overdrafts

14

102

256

238

Long Term Debt / Capital Leases due Within a Year

73

96

156

188

Long Term Debt and Capital Leases

6,162

4,888

4,789

4,319

Total Debt

$6,249

$5,086

$5,201

$4,745

Unfunded Pension Liability

$1,855

$3,522

$3,097

$2,549

Adjusted Debt

$8,104

$8,608

$8,298

$7,294

Adjusted Debt/EBITDAP

3.42x

4.09x

3.94x

4.29x

Year Ended December 31,